Kuala lumpur: The government is offering a 10 per cent discount on home purchases during the ASEAN Real Estate Conference (AREC) 2026, which will be held at the Malaysia International Trade and Exhibition Centre (MITEC) from July 29 to August 1. Housing and Local Government Minister Nga Kor Ming stated that the initiative is a collaboration between the ministry and the Real Estate and Housing Developers' Association Malaysia (REHDA) aimed at easing the financial burden on homebuyers, particularly in meeting the 10 per cent deposit required under the Sale and Purchase Agreement (SPA).
According to BERNAMA News Agency, Prime Minister Datuk Seri Anwar Ibrahim is scheduled to officiate the four-day conference, which will feature forums, business matching sessions, and an exhibition expected to generate RM1.5 billion in transactions. Nga also announced the Rahmah Cement initiative by the Ministry of Housing and Local Government (KPKT) to help the industry tackle rising construction costs by providing 1.6 million metric tonnes of cement for affordable home developments.
During his remarks at the Developers' Excellence Appreciation Ceremony, held in conjunction with the FIABCI World Prix d'Excellence Awards 2026, Nga highlighted Malaysia's success at the awards. Malaysia emerged as the overall champion, winning 14 awards, including eight gold medals and six silver medals across various categories. Notable gold medal winners were Park Regent Desa ParkCity and The Mansions ParkCity Hanoi in the Residential categories, Merdeka 118 for Best Office and Sustainable Development, and Elmina Lakeside Mall in the Retail category.
Nga emphasized that these achievements reflect Malaysian property developers' capability to compete on an international scale, having won 135 gold medals globally since 1992. The successes signal Malaysia's readiness to make an impact on the global stage and enhance confidence in the country's property industry.
He further commented that the achievements serve as a catalyst for Malaysian companies like ParkCity Group, SP Setia, OSK Property, and EcoWorld, which are successfully expanding their presence overseas. The Prime Minister is also set to launch the National Housing Policy on July 30, aligning with the government's aspiration for Malaysian companies to excel both domestically and internationally.